Pro-Rata Entitlement Offer Closes Oversubscribed

HIGHLIGHTS

• Pro-Rata Entitlement Offer closed raising approximately $20.9 million (before costs) • Significant support from shareholders - ~91% valid applications received from eligible shareholders
• Offer oversubscribed by $3.4 million
• No underwriting required and oversubscriptions to be scaled back

Panoramic’s Managing Director Peter Harold commented:
“The Board wishes to thank all shareholders who participated in the Entitlement Offer. The significant interest from shareholders, with 91% acceptances, is recognition of the support from all shareholders for the Company to fast track the critical-path preproduction activities at Savannah as we move towards a decision to restart operations and develop the Savannah North orebody”.

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